Houston American Energy Corp. Announces New Project in Colombia, South America Monday December 15, 2003
HOUSTON, December 15 /PRNewswire-FirstCall/– Houston American Energy Corp. (OTC Bulletin Board: HUSA – News), is pleased to announce that it has elected to participate on a ground floor basis in the acquisition of over 3000 kilometers of seismic data in Colombia covering in excess of 20 million acres. Prospect mapping has already begun and as a result management believes that this data, which covers some key areas, will result in drilling opportunities in 2004. Houston American Energy will participate for a 12.5% interest through an LLC company that is managing this geological and geophysical effort as well as managing the two other concessions in Colombia in which Houston American Energy has an interest.
Management is very pleased with this opportunity since it provides the company with major exploration upside potential on a non-promoted basis and all of the work is essentially out sourced. This keeps with Houston Americans business model of maintaining a low overhead and yet having significant upside exposure in diversified projects. Management believes it will have the available funds to meet its capital commitments for this project.
About HOUSTON AMERICAN ENERGY CORP. Based in Houston, Texas, Houston American Energy Corp. is an independent energy company with interests in oil and natural gas wells and prospects. The Company’s business strategy includes a property mix of producing and non- producing assets with a focus on Texas and Colombia. Additional information can be accessed by reviewing the December 31, 2002 Form 10-KSB, and its other periodic reports filed with the Securities and Exchange Commission. The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate. Those statements, and Houston American Energy Corp. are subject to a number of risks, including production variances from expectations, volatility of product prices, the capital expenditures required to fund its operations, environmental risks, competition, government regulation, and the ability of the company to implement its business strategy. These and other risks are described in the company’s documents and reports that are available from the company and the United States Securities and Exchange Commission.
For additional information, view the company’s website at www.houstonamericanenergy.com or contact the Company at 713-222-6966.